Inbiogen to raise 12 bln won via stock sale

Inbiogen-capital increase

Inbiogen to raise 12 bln won via stock sale

SEOUL, Nov. 10 (Yonhap) -- Inbiogen Co.on Thursday announced that it will sell stock to raise 12 billion won(US$8.7 million). The proceeds from the stock offering will be used primarily to pay off its debts.

According to a regulatory filing, the company will issue some 14.23 million common shares at a price of 843 won per share. The stock will be sold to the investors that the firm designated.

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